The body grip is not a good trap for red squirrels. The rat trap is okay but I would bait with beaver meat or suet rather than peanut butter. You will still get non target catches in the rat trap.
The best way is to snare them on running poles around their caches. Use Williams stainless steel wire and set multiple loops on each pole. The rule is a 2 finger loop, 2 fingers off the pole.
Use a locking jam knot and don't lean the pole so the squirrel can climb back up.
I know trappers that take over 3000 squirrels a year by this method.